Cabot Microelectronics Co. (NASDAQ:CCMP) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $115.46 and last traded at $115.41, with a volume of 178369 shares changing hands. The stock had previously closed at $114.33.
Several equities research analysts recently issued reports on CCMP shares. BidaskClub lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research lowered shares of Cabot Microelectronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Cabot Microelectronics in a research note on Friday, January 26th. Loop Capital lifted their price objective on shares of Cabot Microelectronics from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Cabot Microelectronics in a research note on Monday, January 29th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Cabot Microelectronics has an average rating of “Buy” and a consensus price target of $110.40.
The company has a market cap of $2,927.88, a price-to-earnings ratio of 47.53 and a beta of 1.41. The company has a quick ratio of 5.71, a current ratio of 6.53 and a debt-to-equity ratio of 0.21.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, March 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.44%. The ex-dividend date is Thursday, March 22nd. This is an increase from Cabot Microelectronics’s previous quarterly dividend of $0.20. Cabot Microelectronics’s dividend payout ratio (DPR) is 33.47%.
In related news, Director William P. Noglows sold 17,000 shares of Cabot Microelectronics stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $98.86, for a total value of $1,680,620.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Bernstein H. Carol Eckstein sold 19,425 shares of Cabot Microelectronics stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.51, for a total transaction of $1,971,831.75. Following the completion of the transaction, the vice president now owns 57,487 shares in the company, valued at approximately $5,835,505.37. The disclosure for this sale can be found here. Insiders sold a total of 70,236 shares of company stock worth $7,247,782 in the last quarter. Insiders own 3.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its holdings in Cabot Microelectronics by 93.4% in the 4th quarter. LS Investment Advisors LLC now owns 1,663 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 803 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Cabot Microelectronics by 87.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,246 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 1,048 shares during the period. Schroder Investment Management Group bought a new position in Cabot Microelectronics in the 4th quarter worth $198,000. Shelton Capital Management bought a new position in Cabot Microelectronics in the 4th quarter worth $214,000. Finally, Quadrature Capital Ltd bought a new position in shares of Cabot Microelectronics during the 4th quarter worth about $236,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.
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About Cabot Microelectronics
Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.
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